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Entrepreneurship is everywhere around us. It can found
in smal family shops in any country and it can be found in every global
organization in the world. Our economy is based on entrepreneurship. For
decades already, entrepreneurship created great interest among academics and
the amount of literature and studies about entrepreneurship can be quite much. In
recent, the interest in entrepreneurship has rise to another level. Successful
entrepreneurs such as Steve Jobs, Bill Gates and Mark Zuckerberg can known by
anyone in any part of the world.

            Entrepreneurship
has an important role in the creation and growth of businesses now affecting growth
and success of countries. Entrepreneurship is the key for business to achieve.
Almost all explanations for business, and for economy itself, depend on
entrepreneurship. Many people around the world engage entrepreneurship. Entrepreneurship
takes a different forms and it appears in both small and big businesses, in new
ventures, in legal and illegal
activities, in the formal and informal economies, in innovative and traditional
cases and in all countries and economic areas. Entrepreneurship is the key to
economic development. Governments and academics intend to encourage
entrepreneurs to its importance to employment creation and economy. Without the
creation of new businesses, our economy would end. And business school students
are very interested in entrepreneurship. Most people study entrepreneurship because
of its importance in creating wealth. However, a financial view can be restrictive
and it prevents us from understanding the true impact entrepreneurship has to
people. The entrepreneur is considered to be the means of changing and revising
the economy.

The entrepreneurial thinking indicates the discovery,
assessment and exploitation of opportunities, in other words, new products,
services or production processes; new strategies and organizational forms and
new markets for products and inputs that cannot be existed. The entrepreneurial
opportunity is an unexpected and as yet under valued economic opportunity. Entrepreneurial
opportunities exist because different individuals have different ideas on the similar
resources or when resources are turned from inputs into outputs. The theory of
the entrepreneur focuses on the beliefs about the value of resources. Entrepreneurship
can be theorized as the discovery of opportunities and the successive creation
of new economic activity, often with creation of a new organization. Because of
the fact that there is no market for opportunities, entrepreneur must find out
them, meaning that entrepreneur must develop his or her capabilities to get resources,
as well as organize and find opportunities. The downside to the ideas or opportunities
lies in the difficulty involved in protecting ownership rights of ideas that
are not associated with patents or copyrights of the different expectations
held by entrepreneurs and investors on the economic value of ideas and business
opportunities, and of the entrepreneur’s need to withhold information that may
affect the value of the project. Entrepreneurship is often discussed under the
title of the entrepreneurial aspect, entrepreneurial initiative, the
entrepreneurial function, and entrepreneurial behavior and is even referred to
as the entrepreneurial life. The entrepreneurial factor is understood to be a
new factor in production that is different to the classic ideas of earth, work
and capital, which must be explained with compensation through income for the
entrepreneur along with the shortage of people with entrepreneurial capabilities.
Its considered as an entrepreneurial function refers to the discovery and
exploitation of opportunities or to the creation of venture. Entrepreneurial behavior
is seen as behavior that manages to combine innovation, risk-taking and pro-activeness.
Entrepreneurial initiative underlines the reasons for correctly foreseeing market
imperfections or the capacity to innovate in order to create a new mixture. Entrepreneurial
initiative covers the concepts of creation, risk-taking, revitalization or
innovation inside or outside an existing organization. Lastly, the entrepreneurial
spirit emphasizes exploration, search and innovation, as opposed to the exploitation
of business opportunities pertaining to managers.